“Throughout history, it has been the inaction of those who could have acted; the indifference of those who should have known better; the silence of the voice of justice when it mattered most; that has made it possible for evil to triumph.”
Haile Selassie

Monday, October 31, 2011

Carmel's White Elephant Gets Whiter

Carmel's Palladium

Headline story in the Indianapolis Business Journal (subscription only) is that the taxpayer subsidy for operating Carmel's Palladium is being nearly tripled to $5.5 million. This is despite the fact that the venue is booked solid and is filled to near capacity for most events.

Mayor Jim Brainard says in the article he hopes to have the subsidy down to $1 million in 3 or 4 years. It's not clear how that is going to be accomplished.

Last year, the City gave $2 million from its general fund to cover the Palladium's budget of $7.5 million. IBJ reports that this time money is coming from a private entity that is supported by tax increment funding (TIF) rather than the city's general fund. Like that makes a difference. Regardless of what governmental pocket the money is taken from, the money initially came from property taxes paid by Carmel residents. If TIF money is drained off, that is less tax dollars for schools, libraries, roads, etc.

The million dollar (or should I say 5 million ;) ) question should be how much tax revenue it the place generating. You may be getting alot of people shopping, eating and using the lodging in Carmel thus generating tax revenue. I would say they are getting a bit more bang out of these events then the city of Indy claws back on the Colts.

About Me

I have been an attorney since the Fall of 1987. I have worked in every branch of government, including a stint as a Deputy Attorney General, a clerk for a judge on the Indiana Court of Appeals, and I have worked three sessions at the Indiana State Senate.
During my time as a lawyer, I have worked not only in various government positions, but also in private practice as a trial attorney handing an assortment of mostly civil cases.
I have also been politically active and run this blog in an effort to add my voice to those calling for reform.